|
� �
<br /> � s�� 106248
<br /> UN1�oRM COVENANTS.Borrowu�nd Lendar cavenent artd epree a�toltowa:
<br /> 1. P�ym�at o1 Peineipal uid tah►MI. Bor►owet shaU prompUy pay when due ihe pri�cipa! Qf and intereat on tha
<br /> �ndebted�ass evidenced by the Nole,prsps rtHntand lats cha�fleaea provided in the Note,and the p�incipal ot and interest on
<br /> any Fulura Advances securad by tha�ot T�uat.
<br /> 2. Fund�la Tsxa�d Inwranc�.Sub ect to applicable law o�to e w�itte�waive�by Lender,Bo��ower shal!pay to Lende�
<br /> on the day mo�lhly inslalimanis of p�inaipa�end interest u�payable under the Note,u�til the Note ia pald in full.a sum(herain
<br /> "Fu�ds")oqual to one-Iwellth ol tha yearly t�x�s and ess�ssments which may attain pNo�ity ove�this Deed of Trust,and
<br /> g�ound�e�ts o�Iha P�operty,if eny,plua one-twelfth oly�arty premlum i�slaliments fo�hazard i�surancs,plus on�-fwelRh af
<br /> yoa�ly premium installme�b lor mon�age insu�ance,It eny,ell as reaaonabty estimated tnitlally and irom time to time by
<br /> l.e�der on the basla ol ess�uments and btlls and rasonable eatimates ihe�eal.
<br /> The Funda ahall be lield in an lnstitution tha depoaib or accounta ot whlch are Insured or�ua�anteed,by a Federal o�atate
<br /> agency(Inctudin�lende� i}lende�ia auch an Institution). Lendar ahell apply the funda to psy said taxe�, asseasmenh,
<br /> i�su�ancep�emiumsa�dS�ou�drents.Lende�may notchar�efo�aoholdi�g andapptyingtheFunda,enaly:in�aaidaccount
<br /> or verityinp and compiitng said aasessmanta and billa,unless Lenda�pays�or�owe�interest o�the Funds a�d spplicable Iaw
<br /> permits Lander to make such a cha�ge.Borrowe�end Lende�may a��ee in w►iting atthe tlme ot executian of this Dsed o1 T�ust
<br /> thal inte�sst on the Funds ahall bs pald to Borrowe�,und unlsss such a�rsament is made o►appIlcalbe law�puires such
<br /> interest to be paid,Lende�shaN not be�ec�uired tapay Bo�rowet any inte�est o�earninps o�the Funda.lender ahall give to
<br /> 6orrowe�,without chsrgs,en ennual aGCOUnd��01 th�Fundf showinp c�edits and de6lts to ths Funds and th�pu�pos�fa►
<br /> which ssch debit to the Funds was made.The Funds ere pledped as additio�al seauriy fo�the aums aecured by this Desd ot
<br /> Truat.
<br /> It the amount ot the lunds held by lender,topether with the future monthly inatallmenta ol Fund�payable p�io�to ths due
<br /> datea ot taxea,assessme�ta,insurance premiuma and�ound�ants.shall exceed the amou�t requirsd to p�y said taxe�.
<br /> assessments,inau►ance p►emiums end g�ou�d renW as they tail due,such excess shall be,at Borrower'a option,either
<br /> promptly repaid to 8orrower or credited to 8o�rower on monthly installments oi Funds.H the amount o1 tha Funds held by
<br /> Lender shall not be suHlcient to pay taxes,assessments,inaurance premiums and g�ound rents as they fall due.Borrower ahalt
<br /> pay to lender any amount necesaary to make up the deflclency withi�30 days f�om the date notice ia mailed by Lende�to
<br /> Barrower requesbng payment thereol.
<br /> llpo�payment in full of atl sums secured by this Deed ol Trust,Lender shall prompUy�etund to Borrawer any Funds held by
<br /> Lender.I1 under paregreph 19 hereof lhe Prope�i�aold or the P�operN is otherwise acquired by Lende�,Lender shall app�y
<br /> no later than immediately pNo�to the sale o1 the roperly or it�ec uisitfon by Lender,and Funds held by Lender at the time o�
<br /> application as e credil epainst the sums secured by this Deed o1��us4
<br /> 3. Appilcallon ol Paym�nts.Unless appticable law p�ovidas otherwise,all paymeMs received by Lender under the Note
<br /> and paragapha 1 and 2 he�eoi shell be appiied by lender fi�at In payment of amaunts payable to Lender by Borrower unda�
<br /> paregraph 2 hereot,then to interest payable on the Note,then to the princlpal Qf the Note,and then to interesta�d principal cn '
<br /> any Future Advances. r .
<br /> 4. Charq�s;U�ns.Bor�owera shall pay at1 taxes,aaaesaments and other charges,finea and impositlo��ettributable to the
<br /> Property which may attain a priority over this Deed ot T�ust.and leeaehold peyments o�g�ound rente,if eny.in the manner
<br /> providad under pa�agraph 2 hereol or.It not paid in auch menner,by Borrowe�making payment when due.directly to the � ,�
<br /> payee the�eof.6orrowe�shall promptly fumiah to Lendar efl noticea of amounts due under thia parapraph,and in the event � ;��
<br /> Barrowet shatl make�ayment directiy. Bor�owe� shstt promptty lurnisfi to tender receipta eviaenciny sucn pa�menis. ; -
<br /> Borrowe�shall p�ompt y diacharpe any Hen which hes p�ioriry over this Deed of Trust provlded.that 8o��ower shet not be �
<br /> required to diacharge anY such lien so lonp as Botrowerohall a�ree fn w�iting to the payment of ths obli�ation secu�ed by such ' -
<br /> lien�n a manner acceptable to Lender,or shall in�ood/aith conteat auch lien by,or detend enforcement of auch lien in,lepel _
<br /> proceedings whlch operate to prevent the enforcemant ol the Ifen or torfelture of the Properiy or any part thereaf.
<br /> 5. Ns:a�d Insuraac�.8orrower shell keep the Improvementa now axisting or heroefter erected on the Property Inauted '�'
<br /> against loss by flre,hsza�da included within the term"exte�ded cove►e e",end such other hazarda as Lender may requlre
<br /> and��such amounta and for such perlods es Lender may require;provi�ed,that Lender ahall not r ulre that the am�u�t of -i
<br /> such coverage exceed thal amount of coverage required to pay the suma secured by this Deed ot�rust. �
<br /> This inaura�ce carrie�providing the insurance shail be choaen by Borrower subject to approvai by Lender;provided,that ;
<br /> such approval shall not be unreasonably withheld.All premiuma on insurance policiea shail be paid ln the ma�ner provided —
<br /> unde�paragraph 2 hereof or,i1 not paid in such manner,by Borrower maki�g paymenL when due,directly to ths insurance �
<br /> carrie�.
<br /> All insurance policles and�enewal9 thereof shall be in torm acceptebie to Lender and shall inctude a stand►rd moRga�e
<br /> clause in lavor ot and in fo�m acceptabte to Lender.Lendershall have the rlght to hotd the po8ciea and renewals thereof,and
<br /> 9or�ower shal{promptty fumiah to Lende�all reRewal noticea and all receipts of paid premlums.In the event oi foss.Borrower
<br /> sholl give promp1�ot�ca to the insu�ance carrier and Lender.Lender may make proof ol loss+1 not made promptly by Qorrower.
<br /> Unleas Lender and Bor�ower otherwise agree in writln�,In�urance�roceeds shail be�pplied to�eatoration or repair oi the
<br /> Property,damaged,provided such reetoration or repair is economically teaaible and the security oi this Deed of Trust is not �
<br /> thereby�mpaired.it such restoration or repair is not economically teasible or it the securiry of t7�is�eed of Trust would be
<br /> impaired,the insurance p�oceeda�hall be applied to ths auma aecured by thl�Oeed o1 Trust,with Me excess,if any,paid to ''�
<br /> Borrower.it the Prapetty��abandonad by Borrower,or if Borrower lails to respond to Lender withi�30 days from the data -'�
<br /> notice is mailed by Lender to Borrower that the insutance catrier ottero to aettie a claim for Insuranca beneflta,Le�de�ia
<br /> auiho�ized to collect and appty the insurance proceeds at Lender's option either to restoration or repair of the P�operty or to
<br /> ths sums secursd by this Oeed ot TrusL
<br /> Unless Lender and Bo�rower othsrwiss aqrea in writing,any such application ot proceeds to princtpal ahall not extend or
<br /> postpone the due date of the monthly installment�refeKed to ln parapraph�1 and 2 hereof or chenpe the amount of such
<br /> �nstaltments.If under para raph 1�hereof the Property is acquired by Lender,ail righL title and intereat of Bor�owet In and to
<br /> any insurance policies an�ln and to the procesds thareof resufting trom damage tothe Property prior to ths sele or acquiaition
<br /> shaU pass to Lender to the extent o1 the aums secured by this Deed of Trust immeaiately prlor to auch sale o►acquisition.
<br /> 6. Pastrvslba aad MaMl�eanc�of P�operfy;L�aa�holds:Gondominlums:Ptann�d Unit O�rNopm�n If.Bor�ower shall
<br /> heep the Rroperty in good repeir and sha{i noi comr►tiit waste at parmtt impatrment at deto:iorat�an o t! he Ptopetly and shal!
<br /> comply with the provisions ot eny 18ase if thia Oead otTrust is on e leasehold if this Deed of Truat is on a unit in a condominium
<br /> or a planned unit development,Borrower shall perform all of Borrower's obQgations unde►the declaration or coveoants
<br /> creating or governing the condominium or planned un�t development,the by-laws and regulationa of the condominium ot
<br /> planned un�t development,and conatituent documents.lf a condominwm or planned unit development�ider ls excuted by
<br /> Bo��ower and recorded topether with this Deed of Trust,the covenanta and e resments o1 such�ider shall be Incorporated
<br /> �nto and shall amend and aupplement the covenants and apreemenb o!thia�of Trust es it the rider were a pan hereot.
<br /> 7. ProNcNon ol L�ndK'�S�eudt�l.If Borrower faila to peAorm tfie covenanta and apre�ments confeineci in this Deed ot
<br /> TrusL or i1 any action or proceeding i�commenced with materially aftecta Lender's interest in the Property.Inc�uding but not
<br /> lim�ted to,emment doma�n,insotvency,code enforcement,or arrangements or proceedings lnvolvmg a bankrupt or decedent,
<br /> then Lender at Lender's option,upen notice to Borrower,may make auch appearances,disburse such sums and take such .-_-__ _
<br /> act�on es is nocessary to p�otect Lender's interesL inctuding but not limited to,disbursement of reasonable ettorney's fees and •
<br /> entry upon the Property to mako repairs.It Lender required mort ase insurance ea a cond�tion of making the loan secured by
<br /> the Deed ot Trust,8orrower shall pay the premiums required�o maintain such insurance in eHect until such tlme as the
<br /> requirement for such insursnce terminates in accordancewith Borrower'aand Lender's written egreement or appUcalbe law.
<br /> 8orrower strell pay the amount of all mortgage insuranca�rermiuma in the manner provided unde►paragraph 2 t�ereat.
<br /> Any amounta df�0ursed by Lender purauant to this patepraph 7, with inta�esl thereon, shali 6ecame additlonal
<br /> �ndebtedna�a of Borrawer secured by Ih+s Ds�d of Trus4 Unless BOrrower and Lendet agree to other terma of paymen�,such ;
<br /> amounts shall be payable upon notice irom Lender to Borrowsr requesting payment hereo},end shall bear intereat from tha �
<br /> dats ol d�sburseme�tatthe rate paya�ble trom time to tlms on outstandmg principal under the Note unless payrneM of�ntereat
<br /> I al such rele woutd be contrary tp epp IicaDle law. in which event such amounts shall bear interest al the highest rate
<br /> L perm�ssible under opplicable law Nothing contai�ad in this paregraph Y shatl rQquire Lender to incur any expense or teke eny
<br /> siCUOn heteunder {^,
<br /> •. Inspklfoo.Lender may make or ceuse to be mede reesonebl8 pntn�s u�on und inspecUons ol thn Prpperfy,provided !��
<br /> th�t i entitlt shaii grve 8o+rower not�cu yrcrt 9u hi�y su�h insp�t,tiun SLbG�fY�nfl rea5un�ble c ause tharetorc rolutod fo!�;nd�r'� ,�:
<br /> �utorflst m Iho Propetry w °'�i (
<br /> F�
<br /> ____�
<br />
|